CWA Asset Management Group LLC bought a new stake in Deere & Company (NYSE:DE) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,115 shares of the industrial products company’s stock, valued at approximately $230,000.
Several other hedge funds have also recently added to or reduced their stakes in DE. Quadrature Capital Ltd purchased a new stake in Deere & during the fourth quarter valued at approximately $26,810,000. RMB Capital Management LLC purchased a new stake in Deere & during the fourth quarter valued at approximately $341,000. UBS Asset Management Americas Inc. increased its position in shares of Deere & by 5.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 771,587 shares of the industrial products company’s stock worth $79,503,000 after buying an additional 39,041 shares in the last quarter. USA Financial Portformulas Corp bought a new position in shares of Deere & during the fourth quarter worth about $604,000. Finally, Whalerock Point Partners LLC increased its position in shares of Deere & by 31.4% in the fourth quarter. Whalerock Point Partners LLC now owns 5,650 shares of the industrial products company’s stock worth $582,000 after buying an additional 1,350 shares in the last quarter. Institutional investors own 67.35% of the company’s stock.
Shares of Deere & Company (NYSE DE) opened at 132.02 on Wednesday. The company has a market cap of $42.23 billion, a price-to-earnings ratio of 23.77 and a beta of 0.67. Deere & Company has a 1-year low of $76.73 and a 1-year high of $132.22. The firm’s 50-day moving average is $126.12 and its 200 day moving average is $115.78. Deere & also was the recipient of unusually large options trading on Monday. Stock traders purchased 731 call options on the stock. This represents an increase of 255% compared to the typical volume of 206 call options.
Deere & (NYSE:DE) last released its quarterly earnings data on Friday, May 19th. The industrial products company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.79. Deere & had a return on equity of 24.85% and a net margin of 6.52%. The firm had revenue of $7.26 billion during the quarter, compared to analyst estimates of $7.27 billion. During the same period in the prior year, the company posted $1.56 earnings per share. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities analysts expect that Deere & Company will post $6.37 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, June 30th were paid a dividend of $0.60 per share. The ex-dividend date was Wednesday, June 28th. This represents a $2.40 annualized dividend and a yield of 1.82%. Deere &’s dividend payout ratio is currently 43.24%.
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DE has been the subject of several recent research reports. Credit Suisse Group set a $132.00 target price on shares of Deere & and gave the company a “buy” rating in a report on Wednesday, April 12th. BMO Capital Markets reiterated a “buy” rating and set a $128.00 price target on shares of Deere & in a report on Thursday, April 20th. Citigroup Inc. lifted their price target on shares of Deere & from $125.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, May 23rd. Wells Fargo & Company reiterated an “outperform” rating and set a $140.00 price target (up from $125.00) on shares of Deere & in a report on Tuesday, May 23rd. Finally, TheStreet upgraded shares of Deere & from a “c+” rating to an “a-” rating in a report on Friday, May 19th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $122.60.
In related news, VP Marc A. Howze sold 6,624 shares of the firm’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $119.59, for a total value of $792,164.16. Following the transaction, the vice president now owns 9,004 shares in the company, valued at $1,076,788.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Cory J. Reed sold 5,840 shares of the firm’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $119.59, for a total value of $698,405.60. Following the completion of the transaction, the insider now owns 10,807 shares in the company, valued at approximately $1,292,409.13. The disclosure for this sale can be found here. Insiders have sold 125,988 shares of company stock valued at $15,796,587 over the last quarter. Corporate insiders own 0.75% of the company’s stock.
About Deere &
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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